Weekly Wool Market Commentary S38/15

Wk 38 17/03/2016. The AWEX EMI closed on 1,227c up 4c at auction sales in Australia this week. The much needed lift in the EMI came after losses in three consecutive sell weeks, and in the face of an appreciating AUD.

The 39,000 bales went to market in three centres with a strong opening in Melbourne and Fremantle with Sydney a little more subdued on the opening day.

Thursday saw a continuance of the upward trend with most Merino MPG’s lifting between 5 and 10c with the 19.5 MPG increasing the week by 17c. In USD terms the EMI increased by 17usc which is very positive change to the stagnant price of wool in USD.

Merino Skirtings mimicked the Fleece movements whilst cardings and crossbred movements were varied across the continent however showing only slight variances either way.

Next week’s sale will be the Easter Special Sale held at the Royal Easter Show in Sydney. Moses & Son have a coach load of clients and staff attending the sale, which has gained a lot of new interest this year.

With 48,000 bales on offer, the sale should be well supported by the exporters given the positive tone displayed this week, and next week’s offering is in front of a one week recess. ~ Marty Moses